HONG KONG-Shipra Estate Ltd. is taking the wraps off of plans for a massive mixed-use development it plans to build near the town of Chandigarh, in the northern regions of India. Plans for the 1,200-acre complex, which is estimated to cost from seven to 10 billion euros, are still shaping up, Shipra retail director Rohit Bhasin told GlobeSt.com, but the plans so far are as impressive as the price tag.

The centerpiece of the project is a five-million-sf enclosed mall, but the plans don’t stop there. An 18-hole golf course, designed to British PGA standards; high-rise residential, the size of which is yet to be determined; a convention center; and sports complex will also be included. Two luxury hotels totaling nearly 500 rooms and one budget lodging are also in the plan, as is an IT-specific economic zone of roughly 50 acres. RTKL is shouldering the master-plan duties.

Bhasin explained that Shipra is still in the process of lining up investors, and he said the firm is looking for private-equity partners before turning to the debt markets. In terms of rollout, the first phase is expected to be completed in three years. When the dust clears, that will include high-rise residential, the first phase of the mall and one of the luxury hotels, all of which will be contained on 200 acres. Final build out will take 10 to 12 years, Bhasin stated.

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